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Questions and Answers
Which of the following is the definition of a commercial bank?
Which of the following is the definition of a commercial bank?
- A bank that only offers Islamic financial services
- A bank that operates in multiple countries
- A bank that focuses on providing loans to individuals and businesses (correct)
- A bank that is regulated by the government
What is one of the functions of a commercial bank?
What is one of the functions of a commercial bank?
- Creating and enforcing banking regulations
- Facilitating financial transactions (correct)
- Providing insurance services
- Issuing government bonds
What is the difference between an Islamic bank and a conventional bank?
What is the difference between an Islamic bank and a conventional bank?
- Islamic banks follow Shariah principles in their operations (correct)
- Islamic banks are not regulated by the government
- Islamic banks only operate in Muslim-majority countries
- Islamic banks offer higher interest rates on deposits
What is the purpose of the Financial Services Act 2013?
What is the purpose of the Financial Services Act 2013?
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What is the purpose of the Anti-money Laundering and Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLATFPUAA)?
What is the purpose of the Anti-money Laundering and Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLATFPUAA)?
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